Ammon News - Arab Potash Company (APC) announced that it achieved net profits amounting to JD239 million at the end of 2023 third quarter, while mining taxes and fees stood at about JD128 million during the same period.

According to APC's financial statements, the operating profit made from potash operations amounted to JD236 million until end of last September 2023, while the APC's share of profits from its allied and affiliated companies, primarily : Jordan Bromine Company Ltd., and Arab Fertilizers & Chemicals Industries (KEMAPCO), stood at about JD64 million.

The data showed that the company's consolidated net revenues amounted to about JD600 million until end of the third quarter of 2023.

Commenting on APC's policy, its Chairman of Board of Directors, Shehadah Abu Hdaib, said the company continued its role in supporting goals of sustainable economic development, as well as local and global food security and stability by securing needs of different markets globally for Jordanian potash.

The company, he noted, also fulfilled its obligations towards its traditional world partners despite the global political instability.

Abu Hdaib added that the company is continuing to implement its "pivotal" role to advance the national mining and fertilizer sector and contribute to implementing axes of Economic Modernization Vision (EMV), which seek to increase the mining sector’s contribution to gross domestic product to exceed the current percentage of 2.2%.

Abu Hdaib noted APC and its subsidiaries and allied companies are among the "largest" contributors to supplementing the Kingdom’s hard currency reserves, which reached $1.2 billion at the end of the third quarter of 2023.

Additionally, he noted the company continued to implement its social responsibility program by providing support for current projects implemented in local communities with development impacts.

Petra